The Bank will close most offices in Russia

ЕБРР закроет большинство офисов в России

EBRD reduces offices in Russia

The decision is due to “geopolitical situation”.

The European Bank for reconstruction and development in 2018 will close five offices in several Russian cities. Mission will be only in Moscow and St. Petersburg, said the official representative of the financial institution, Prime.

As it became known, the Bank assessed the need to maintain representative offices in Russia and decided to close the offices in Yekaterinburg, Krasnoyarsk, Rostov-na-Donu, Vladivostok and Samara.

“Two offices – in Moscow and St. Petersburg – will be sufficient for operations of the EBRD in Russia”, – said the representative of the EBRD.

We will remind, shareholders of the EBRD in July 2014 adopted the decision to freeze investment in new projects in Russia due to the complication of the geopolitical situation and sanctions from the US and Europe.

Also recall that the EBRD half reduced investment in Ukraine.